San Francisco and Newport Beach, CA – December 16, 2021 – Carrick Capital Partners, a growth-oriented investment firm focused on software and software-enabled businesses, today announced the completion of three portfolio company sales in the final quarter of 2021.
“At Carrick we apply repeatable process improvements in software and the tech-enabled business services sector to help great companies scale and achieve recurring revenue and improved gross margin,” explained Marc McMorris, Carrick Capital Partners Co-CEO and Co-Chair of the Investment Committee. “We are very pleased with the results of these three different exits,” McMorris added.
• Saama Technologies, Inc.: Carlyle and co-investors including Merck GHI, McKesson Ventures, and Pfizer Ventures, among others, announced a strategic growth investment in Saama leveraging Saama’s evolution as a software-based offering to accelerate development of the company’s AI-driven data management and analytics capabilities.
• Mavenlink: Mavenlink, which has successfully evolved its model to serve a larger enterprise clientele, announced a merger with Kimble Applications in which Accel-KKR is the majority investor. Carrick Capital Partners will have an equity interest in the combined business.
• Brightspot: Having successfully built out their software product offering, Brightspot executed on a majority recapitalization transaction with Tailwind Capital, a private equity firm focused on investments in growth-oriented companies.
“I’ve had a great, long history with the team at Carrick. Their advice, operational problem-solving capabilities, and networking support make them an exceptional partner,” said Ray Grainger, CEO and co-founder of Mavenlink. “But most valuable in getting us to this point was their enterprise expertise and the role they played in helping us pivot to pursue large enterprise clients,” he emphasized.
“By leveraging our deep operational experience, we are able to apply our repeatable process improvement model in a way that is customized to each portfolio company circumstance. These latest exits exemplify how our experience with software-based revenue streams, go-to-market strategies and our large enterprise expertise have benefitted three different companies,” said Jim Madden, Carrick Capital Partners Co-CEO and Co-Chair of the Investment Committee. “Combined with our broad networks, our approach contributes significantly to the positive economic outcomes across the sectors in our portfolio,” Madden concluded.
About Carrick Capital Partners
Headquartered in San Francisco and Newport Beach, Carrick Capital Partners is a growth-oriented investment firm that utilizes ABV (Approach to Building Value) to operationally scale fast-growing, technology-enabled businesses. Carrick adds value by taking a concentrated approach and dedicating significant resources post-investment. Leveraging decades of experience, Carrick helps scale great companies that deliver excellent returns for investors, stimulating economic growth and positively impacting the industry landscape. Working directly with CEOs and entrepreneurs, Carrick fulfills a vital need for investment capital and growth expertise. For more information, please visit www.carrickcapitalpartners.com.
The portfolio companies identified and described herein do not represent all of the portfolio companies purchased, sold, or recommended for funds advised by Carrick. The reader should not assume that an investment in the portfolio companies identified was or will be profitable. A full listing of investments can be provided upon request. Past performance is not indicative of future results. For a list of all of our current portfolio companies, please https://www.carrickcapitalpartners.com/our-companies. This press release is not a solicitation of an offer to purchase securities and may not be relied upon in connection with the purchase or sale of any security.
